In short run the shutdown point is that point at which
A: price equals marginal cost.
B: average fixed cost equals marginal cost.
C: average variable cost equals marginal cost.
D: average total cost equals marginal cost.
A: price equals marginal cost.
B: average fixed cost equals marginal cost.
C: average variable cost equals marginal cost.
D: average total cost equals marginal cost.
举一反三
- A competitive firm maximizes profit by choosing the quantity at which ( ) A: average total cost is at its minimum. B: marginal cost equals the price. C: average total cost equals the price. D: marginal cost equals average total cost.
- A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its ____ A: marginal revenue B: average total cost C: average variable cost. D: average fixed cost.
- A firm maximizes profit by operating at the level of output where A: average revenue equals average cost. B: average revenue equals average variable cost. C: total costs are minimized. D: marginal revenue equals marginal cost. E: marginal revenue exceeds marginal cost by the greatest amount.
- If, in long run equilibrium, the competitive price of some good is $16.67, then, for each and every firm in the industry, A: marginal cost > average cost = $16.67. B: marginal cost < average cost = $16.67. C: $16.67 = marginal cost = average cost. D: $16.67 = marginal cost > average cost.
- To maximize profit, the monopolist produces on the ________ portion of the demand curve where ________. A: elastic; price equals marginal cost B: elastic; marginal revenue equals marginal cost C: inelastic; price equals marginal revenue D: inelastic; marginal revenue equals marginal cost